NeuroPace Stock Falls 6.7% Following Public Offering Announcement

(RTTNews) - NeuroPace, Inc. (NPCE) is down 6.70 percent, declining $0.81 to $11.28, after announcing a public offering of 6.5 million shares at $10.00 per share, expected to raise $65 million.

NPCE is currently trading at $11.52 after opening at $10.30. The stock has moved between $10.30 and $11.50 today. Trading volume is at 1.10 million shares, significantly higher than the average of 114,016.

NeuroPace remains within its 52-week range of $5.45 to $18.15 as investors react to the dilution impact of the new share offering.

The offering is set to close on February 18, with underwriters granted a 30-day option to purchase up to an additional 975,000 shares.